Research Update: Grupo Bimbo 'BBB+' Corporate Rating Lowered To 'BBB' On Confirmation Of Acquisition Of Weston Foods Inc. - S&P Global Ratings’ Credit Research

Research Update: Grupo Bimbo 'BBB+' Corporate Rating Lowered To 'BBB' On Confirmation Of Acquisition Of Weston Foods Inc.

Research Update: Grupo Bimbo 'BBB+' Corporate Rating Lowered To 'BBB' On Confirmation Of Acquisition Of Weston Foods Inc. - S&P Global Ratings’ Credit Research
Research Update: Grupo Bimbo 'BBB+' Corporate Rating Lowered To 'BBB' On Confirmation Of Acquisition Of Weston Foods Inc.
Published Jan 22, 2009
1428 words — Published Jan 22, 2009
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On Jan. 22, 2009, Standard&Poor's Ratings Services lowered its global and national scale corporate credit ratings on Grupo Bimbo S.A.B. de C.V. (Bimbo) to 'BBB' from 'BBB+' and 'mxAA+' from 'mxAAA', respectively. At the same time, we removed the ratings from CreditWatch Negative, where they were placed Dec. 4, 2008. The outlook is negative. The rating action follows the company's announcement regarding the completion of its acquisition of Weston Foods Inc.'s (WFI) U.S. fresh bakery business from Dunedin Holdings SARL, a subsidiary of Toronto-based George Weston Ltd. (BBB/CW-Neg), and the separate acquisition of related financial assets, having received the corresponding approvals and regulatory clearance. The two transactions were valued at $2.380 billion and $125 million, respectively, for a

  
Brief Excerpt:

RESEARCH Research Update: Grupo Bimbo '###+' Corporate Rating Lowered To '###' On Confirmation Of Acquisition Of Weston Foods Inc. Publication date: 22-Jan-2009 Primary Credit Analyst: Enrique Gomez Tagle, CFA, Mexico City (52) 55-5081-4407;...

  
Report Type:

Research Update

Ticker
BIMBO@MM
Issuer
Grupo Bimbo S.A.B. de C.V.
GICS
Packaged Foods & Meats (30202030)
Sector
Global Issuers, Structured Finance
Country
Mexico
Region
Latin America
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Grupo Bimbo 'BBB+' Corporate Rating Lowered To 'BBB' On Confirmation Of Acquisition Of Weston Foods Inc." Jan 22, 2009. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Grupo-Bimbo-BBB-Corporate-Rating-Lowered-To-BBB-On-Confirmation-Of-Acquisition-Of-Weston-Foods-Inc-697786>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Grupo Bimbo 'BBB+' Corporate Rating Lowered To 'BBB' On Confirmation Of Acquisition Of Weston Foods Inc. Jan 22, 2009. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Grupo-Bimbo-BBB-Corporate-Rating-Lowered-To-BBB-On-Confirmation-Of-Acquisition-Of-Weston-Foods-Inc-697786>
  
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